You want to have $1.5 million in real dollars in an account when you retire in 40

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You want to have $1.5 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 11 percent and the inflation rate is 3.8 percent. What real amount must you deposit each year to achieve your goal?

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Fundamentals of corporate finance

ISBN: 978-0073382395

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Dec 16, 2016 01:50 PM

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You want to have $1.5 million in real dollars in an account when you retire in 40

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Fundamentals of corporate finance

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